Awilco Lng Asa · OSL:ALNG
Awilco Lng Asa — Q1 2022 Earnings Presentation
19 slides from Awilco Lng Asa's earnings presentation, May 27, 2022
Slide 1: First quarter 2022
First quarter 2022 May 27, 2022 www.awilcolng.no -1-
Slide 2: Disclaimer
Disclaimer This presentation may include certain forward-looking statements, forecasts, estimates, predictions, influences and projections regarding the intent, opinion, belief, various assumptions or current expectations of Awilco LNG (the “Company”) and it’s management with respect to, among other
Slide 3: Company overview
Company overview Awilco LNG is a fully integrated pure play LNG transportation provider, owning and operating LNG carriers. The Company owns and operates two 2013-built 156,000 cbm TFDE LNG carriers, WilPride and WilForce, trading in the medium term and spot market. Awilco LNG is listed on Euronext
Slide 4: Agenda May 27, 2022
Agenda May 27, 2022 1. Highlights 2. Financials first quarter 2022 3. Market update 4. Summary www.awilcolng.no -4-
Slide 5: Highlights
Highlights Awilco LNG achieved a net result of USD 6.0 million and earnings per share of USD 0.05 for first quarter, up from net result of USD 5.8 million and earnings per share of USD 0.04 in fourth quarter 2021. Net freight income of USD 14.1 million in first quarter 2022, down from USD 14.5 m
Slide 6: Agenda May 27, 2022
Agenda May 27, 2022 1. Highlights 2. Financials first quarter 2022 3. Market update 4. Summary www.awilcolng.no -6-
Slide 7: First quarter 2022 income statement
First quarter 2022 income statement USD million Q1’22 Q4’21 2021 Freight income 14.3 14.6 59.6 Voyage related expenses (0.2) (0.1) (2.4) Net freight income 14.1 14.5 57.1 Other income 0.4 0.1 0.1 Operating expenses (2.7) (2.5) (10.0) Administration expenses (0.8) (1.3) (3.9) EBITDA 11.0 10.7 43.3 De
Slide 8: First quarter 2022 financial position
First quarter 2022 financial position USD million 31.12.21 31.12.21 31.03.21 Vessels 325.1 326.9 335.6 Other fixed assets 0.6 0.7 0.7 Total non-current assets 325.7 327.6 336.3 Trade receivables 1.0 1.0 0.4 Financial investments 7.5 - - Other short term assets 0.9 4.6 2.7 Cash and cash equivalents 1
Slide 9: First quarter 2022 cash flow
First quarter 2022 cash flow USD million Q1’22 Q4’21 2021 Cash Flows from Operating Activities: Profit/(loss) before taxes 6.0 5.5 21.1 Income taxes paid - - - Interest and borrowing costs expensed 2.4 2.4 10.2 Depreciation, amortisation and impairment 3.1 3.2 12.6 Valuation adjustment of securities
Slide 10: Agenda May 27, 2022
Agenda May 27, 2022 1. Highlights 2. Financials first quarter 2022 3. Market update 4. Summary www.awilcolng.no - 10 -
Slide 11: Spot rates
Spot rates USD/DAY 250 000 200 000 150 000 100 000 50 000 - WW spot rate ST WW spot rate TFDE Historic ave. spot rate ST Historic ave. spot rate TFDE • Weak spot market in first quarter as ton-mile suffered due to Asia – Europe shift, but has strengthened recently on capacity issues • 1-yr TC market
Slide 12: LNG export and import
LNG export and import Q1 2022 vs Q1 2021 (YoY change) West Africa Russia North America North Africa Middle East and Gulf Latin America Europe Asia -4 -2 0 2 4 6 8 10 12 14 Import (in MT) Export (in MT) • Shift of demand from Asia to Europe has made a large impact over the last quarters • More volume
Slide 13: Gas prices
Gas prices USD/MMBTU 50 40 30 20 10 0 01.2018 03.2018 05.2018 07.2018 09.2018 11.2018 01.2019 03.2019 05.2019 07.2019 09.2019 11.2019 01.2020 03.2020 05.2020 07.2020 09.2020 11.2020 01.2021 03.2021 05.2021 07.2021 09.2021 11.2021 01.2022 03.2022 05.2022 07.2022 09.2022 11.2022 01.2023 03.2023 05.202
Slide 14: Trainspotting
Trainspotting MTPA LNG TRAINS UNDER CONSTRUCTION MTPA 14 180 160 12 140 10 120 8 100 6 80 60 4 40 2 20 0 0 Started 2022 2022 2023 2024 2025 2026 2027 2028 Total (RHS) • ~ 165 MTPA new capacity currently under construction • Further FIDs needed to meet expected demand • More than 800 MTPA of new liqu
Slide 15: LNG fleet and orderbook
LNG fleet and orderbook NO. VESSELS TOTAL FLEET 800 70 700 60 600 50 500 40 400 30 300 20 200 10 100 0 0 Fixed (LHS) Fixed Arc7s (LHS) Available (LHS) Delivered (LHS) Total fleet (RHS) • Limited newbuilding deliveries in 2022 and 2023 to support a strong market for the next years • High ordering act
Slide 16: Agenda May 27, 2022
Agenda May 27, 2022 1. Highlights 2. Financials first quarter 2022 3. Market update 4. Summary www.awilcolng.no - 16 -
Slide 17: Summary
Summary Shift of demand from Asia to Europe has led to shorter sailing distances and higher availability of ships in first quarter 2022 Gradually strengthening of market so far in second quarter with spot at USD 75,000 pd and and 1-year TC rates for TFDE vessels are assessed around USD 110,000 p
Slide 18: A Fully Integrated Pure Play LNG Transportation Provider
A Fully Integrated Pure Play LNG Transportation Provider Two 2013 built TFDEs Tier 1 customers Solid owners Experienced Opportunistic strategy management team www.awilcolng.no - 18 -
Slide 19: Jon Skule Storheill CEO
Jon Skule Storheill CEO Mobile: +47 913 44 356 E-mail: jss@awilcolng.no Per Heiberg CFO Mobile: +47 952 20 264 E-mail: pheiberg@awilcolng.no www.awilcolng.no - 19 -